Buying a home in the Phoenix area, Scottsdale or Tempe is quickly becoming far too expensive for many would-be buyers. But there are plenty of other communities where housing is more affordable, and some of them offer the same opportunities when it comes to job growth and access to amenities.
We’ve compiled a list of eight cities that we think will be up-and-coming real estate markets in Arizona in the coming years.
Reasons to consider buying in these communities:
– Entry-level homes available for $150,000 or less
– Home prices are up just 6 percent over last year’s prices, meaning there’s still a great deal of buying power for prospective buyers.
– Proximity to Phoenix, Tempe, and Scottsdale offer a good option for Phoenix area job seekers and those who work in Mesa, Gilbert, and Chandler.
-Construction and household consumption have been up in all eight communities over the last year. Scottsdale has seen an annual increase of 10 percent over last year.
-Cities are growing at an estimated average rate of 2 percent a year. These cities also have high percentages of single-family homes instead of apartments or condominiums.
-The schools are solid, and the cost of living is low.
-The average work commute time is approximately 20 minutes.
Here are eight communities that make great alternatives to Phoenix or Scottsdale:
Avondale
The city sits along Interstate 10 with its commercial corridor, which has helped it attract new business developments from Home Depot and Wal-Mart. The city boasts the third-highest job growth rate at 3.1 percent a year in the state. Avondale’s schools have earned an “A” rating from the Arizona Department of Education and lower than average dropout rates.
The city’s population has risen over the years, going from about 6,000 residents in 1980 to an estimated 94,579 residents today. With a job growth rate of 3.1 percent annually and housing prices up just 6 percent between last year, Avondale is a great option for those who want to purchase their own home but don’t have the budget for a home in Scottsdale or Phoenix.
Buckeye
The city lies on Interstate 10 just west of Phoenix and offers plenty of affordable housing. Additionally, plans are currently underway to build an Indian casino that will bring even more jobs to the region. Buckeye is also home to the Gila River Arena, hosting concerts and sporting events.
Buckeye offers various housing options, from large farms to homes in older neighborhoods on the outskirts of town. Named the best places to live by Arizona Foothills Magazine in 2021, Buckeye homes for sale are part of a high-growth area that saw house prices increase 15 percent in just one year, but still remain affordable when compared to Scottsdale and Phoenix
Chandler
Chandler isn’t too far from Phoenix and offers plenty of affordability. The city is home to the University of Arizona, which adds to the number of jobs and students who can be found in this growing community. Most of the jobs are in the service sector, with employment levels in this category at 9.7 percent.
Housing costs are down 4 percent from last year, and the unemployment rate is down to 3.9 percent, which is lower than Phoenix’s 6.4-percent figure for October 2020. The city’s housing stock consists of about 2,000 single-family homes, and only around 1,100 units are under construction or proposed for development as of November 2019.
Glendale
Glendale offers more affordable homes and a high job growth rate than passed for Phoenix. The city’s population is estimated at 146,000 residents, and the median home price is $134,000.
The unemployment rate stands at 5 percent compared with 6 percent in Phoenix, while the rent and utility costs are considerably cheaper compared to those in Phoenix. The average commute time is 23 minutes, and there are approximately 10,500 jobs within the city.
Prices have increased just 0.96 percent from last year, less than half of the 6-percent rise seen in Phoenix.
Mesa
Situated along Interstate 10 between Phoenix and Tucson, Mesa is home to major companies, such as the headquarters for Chipotle Mexican Grill and Diamante Foods and several other manufacturing plants. Homes for sale in Mesa cost about $160,000, and the median income is $59,965 a year, according to public data from U.S. Census Bureau.
The city is known for its great schools, although the most recent crime rate statistics aren’t available.
Housing costs are down 4 percent from last year, and there are currently only around 1,000 newly built homes on the market. It has an unemployment rate of 4.7 percent compared with 5.7 percent in Phoenix as of October 2021.
Peoria
Peoria takes its name from the Peoria tribe and is situated along the I-10 in western Arizona. The city has an unemployment rate of less than 6 percent and an inflation rate lower than the national average.
Peoria had the highest median income at $92,916 a year, according to data from 2022, and there are plenty of job opportunities in financial services, manufacturing, and education.
The city’s largest employer is an aircraft manufacturer with about 2,000. The city’s housing costs are up just 2 percent from last year, and the average commute time is 24 minutes.
Rio Vista
Rio Vista is located in the northeast corner of Phoenix and has a population of nearly 11,254. The city’s median home price is estimated at $480,000, and there are currently around 50 new houses under construction.
One of the reasons why Rio Vista has an unemployment rate of just 5.4 percent is because it offers excellent job opportunities for those seeking blue-collar jobs. According to local job boards, Rio Vista is one of the fastest-growing cities in Arizona.
Rio Vista’s housing costs have gone up just 15.7 percent from last year, and the unemployment rate is lower than Phoenix’s at 6.1 percent.
Surprise
Surprise isn’t too far from Phoenix, but it has its characteristics because of its location at the San Tan Mountain Range base. The city houses more than 10,000 employees, with Apple Computer and Motorola Mobility Inc among its employers.
Average housing costs in Surprise are up just 3 percent from last year at $183,000, and the average rent is down at $820 a month. Mortgage rates in Surprise are among the lowest in the country, with a 30-year fixed mortgage rate averaging at 5.5 percent.
Surprise has seen an unemployment rate of just 4.8 percent and an average commute time of 23 minutes since 2005, according to public statistics provided by U.S. Census Bureau.
Conclusion
Hence, by analyzing the above discussed top ten best cities to live in Arizona. It is proven that these cities offer excellent employment opportunities and a lower cost of living. All these qualities put together make for a suitable place to indulge in your needs and interests. As a result, these cities have seen an increase in population and development over time, which indicates that they are ideal places to live in today.
